What don't you know about excessive profits by large multinational corporations?? Together they are sitting on over 1.5 trillion dollars of it...Do you suppose they got it by paying fair living wages here in United States? or would it be more likely that it was at the expense of workers in third world countries working for a paltry wage? They further exploit the environments of such countries due to fact they don't have any environmental regulations..If you want to see what happens to an environment without regulation by Government...Look to China......You really believe that Companies have to move their operations off shore just to serve foreign consumers??? To borrow a phrase from you, "come on! First off.. we have by far and away most of the consumers that they manufacture products for....The relatively small percentage of consumers in third world countries, for the most part do not make enough in wages to purchase the products they make...So that is not the "biggest" reason Jobs are outsourced over seas.. Your argument doesn't contain any logic..How did you arrive at that conclusion?
Yes multinationals do outsource a lot jobs to serve their foreign Markets. Why do you think Toyota and Honda have plants here in America? Almost all the Tundras and Tacoma's are made here in the States. We're their foreign market. So yes my argument does contain logic, you just don't want to except it. And I didn't say that was the biggest reason jobs are outsourced. I said it was a big reason, not biggest. My point was there are so many reasons, and wages is acutely a minor reason.
Unions are using class warfare???? How are they doing that?????? Large corporations and the myriads of lobbyists that they have at their disposal, are busy buying politicians so as to influence policy..which will benefit them of course..not you and I, as working Americans....
I don't see the unions calling for the Bush Tax cuts to be extended. Like you, they use phrases like Obscene profits. Now would why the unions use a myriad of lobbyist? They are the lobbyist.
High taxes??? In recent history, tax rates on the billionaires and millionaires during the Eisenhower administration were above 90 % and there was prosperity..... it was only after Reagan dropped the rate for the wealthiest to 28 %...the deficits grew and wages started to decline.....Clinton raised them to around 34% and was able to balance the budget and create a surplus...You may remember Bush and Gore debating on how best to use the Surplus...... So why do you buy into the "high taxes" baloney? Over the top regulations????? such as???? Lack of regulatory over site is what brought us to the brink.....Wall street has proven that they need to be regulated...as with all large business.....greed will always prevent those at the top to ignore whats best for environments or the best interests of the workers..
Baloney uh? Well when Tax rates were at 90%, The rich were keeping their money off shore and using many many tax shelters, but sure as hell weren't investing as much as they could have in America. And its a fact that when Tax rates are cut, tax revenues goes up. JFK, Reagan, Clinton(HE ACTUALLY DROPPED CAPITAL GAINS TO 20% WHICH HELPED BALANCE THE BUDGET), and W Bush all cut taxes and revenue went up. Deficits grew because over spending by our government, be it GOP or Democrat. Its like you or I getting a $10,000 a year raise, but decide to spend $15,000 more. And the Clinton surplus was based off of spending cuts to 1930 levels believe it not. And there was never surplus anyhow, it was projected surplus that NEVER happened.
Even Obama admitted his tax cuts were more about fairness then actually whats good for the economy.
But JKF understood what spur an economy.
And as far as over the top Regs. I'm not talking about have NO regulations. But the ridiculous red tape business have to go thru just to operate in the country. And it wasn't deregulation that brought us to the brink. It was government manipulation of the housing market thru Fannie and Freddie. We banks and Wall Street believing they had no risk, because they didn't. They were basically playing with tax payer money. They believed whatever they lost in sub-prime loans, the government would back those loans with Fannie and Freddie. And Fannie and Freddie did. But Fannie and Freddie could only back up these loans by buying them and selling them in the form of Bonds and securities on the world market.
So when sub-primes mortgage holders stop paying the house payments, these securities became worthless, investor's stopped buying them, which left F and F with no money to back these loans to the Banks/Wall Street, which caused the banks to stop loaning money, to nearly everyone.
So if government would have never got involved in the housing market, we wouldn't be facing these issues today. It was political greed and that caused the corporate greed. And now we're all paying for it.
Pure and simple, Wall Street wouldn't have taken the chances they did if they didn't believe government would back up their losses.
Greed....that's what Capitalism is all about isn't it????? I guess that's why you don't have clue what Obscene profits might be......I guess you probably do know all about blissfulness....
This wasn't capitalism greed run a muck. It was government manipulation. And no Greed isn't what Capitalism is all about. Capitalism is about financial freedom. The freedom to succeed and to fail. Government took the fail part out of the equation.
And I don't believe in the term obscene profits, cause obscene profits mean there is a limit to how much a person or company should make? Last I checked, this is America. And I'm not about ready to let our government place limits on our possibilities.
